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File #: 21-312    Version: 1
Type: Resolution Status: Agenda Ready
In control: City Council
On agenda: 7/12/2021 Final action: 7/12/2021
Title: Adopting the FY 2021-22 budget and setting the parking tax for the Downtown Parking District Ward(s): 1 Councilor(s): Stapleton Neighborhood(s): CANDO Result Area(s): Good Governance
Attachments: 1. Resolution No. 2021-29, 2. Exhibit A
Related files:

TO:                      Mayor and City Council   

THROUGH:                      Steve Powers, City Manager   

FROM:                      Kristin Retherford, Urban Development Director 

                                          

SUBJECT:

title

 

Adopting the FY 2021-22 budget and setting the parking tax for the Downtown Parking District

 

Ward(s): 1

Councilor(s): Stapleton

Neighborhood(s):  CANDO

Result Area(s): Good Governance

end

 

SUMMARY:

summary

 

The FY 2021-22 operating budget for the Downtown Parking Fund is $1,299,380, which includes rates of $159.28 per space and a $442.16 minimum tax rate.

 

Salem Revised Code 7.110 requires that by June 30 of each year City Council adopt, by resolution, a budget for the Downtown Parking District (District) and set the tax for each fiscal year. Resolution No. 2021-29 has a retroactive effective date of July 1 which is the start of the 2021-22 fiscal year. The District was established in 1976 to provide funding for economic promotion and public parking within the downtown core.

end

 

ISSUE:

 

Shall City Council adopt Resolution No. 2021-29 adopting the FY 2020-21 budget and setting the business-paid parking tax for the Downtown Parking District?

 

 

RECOMMENDATION:

recommendation

 

Adopt Resolution No. 2021-29 (Attachment 1) adopting the FY 2021-22 budget and setting the business-paid parking tax for the Downtown Parking District. 

body

 

 

FACTS AND FINDINGS:

 

For FY 2021-22, annual parking tax rates proposed (no change from previous year):

 

Current Rate Minimum Tax: $442.16

Proposed Rate Minimum Tax: $442.16

 

Current Per Space Rate: $159.28

Proposed Per Space Rate: $159.28

 

Based on the current list of downtown businesses, the current total parking demand is 3,680 spaces.

 

The proposed operating budget is shown in Exhibit A of Resolution No. 2021-29 (Attachment 2).

 

BACKGROUND:

 

In October 2013, Council adopted Initiative Petition 001-2013-IP, which capped annual increases to the downtown parking rate at the lesser of 2% or the general consumer price index (CPI) for Portland, Oregon. Portland’s CPI for the last twelve months has been 4.7%. The maximum amount parking tax rates can increase is 2.0%. There is no increase proposed due to ongoing pandemic recovery by the business sector.

 

 

                     Michael Brown 

                     Financial Services Manager

 

Attachments:

1.                     Resolution 2021-29

2.                     Exhibit A